The Reserve Bank (SARB) has announced a 25-basis-point cut to the repo rate, reducing it to 7%. As a result, the prime lending rate for commercial banks will drop to 10.50%.
“The National Automobile Dealers’ Association (NADA) welcomes this decision, which offers meaningful relief to consumers and businesses alike in a persistently challenging economic climate. Lower interest rates enhance vehicle affordability and will help energise demand in both the new and pre-owned vehicle markets, particularly in cost-sensitive segments,” says Brandon Cohen, Chairperson of NADA.
The rate cut comes amid heightened global uncertainty, with South Africa facing the prospect of export tariffs as high as 30% following an impending trade deadline set by the United States. While broader economic challenges remain, SARB’s decision sends a positive signal and may help strengthen domestic resilience.
Brandon notes that although this may be the final window for monetary easing in the near term, with inflation having remained within SARB’s 3% to 6% target range for nine consecutive months, the cut is a step in the right direction. “The automotive retail sector remains resilient, and dealers continue to support customers through tailored finance solutions and value-driven offerings,” he adds.
Electric vehicles (EVs) have introduced a whole new vocabulary into motoring. Instead of simply talking about litres of fuel, cylinders and kilometres per tank, motorists are now confronted with kW, kWh, AC, DC, WLTP, regenerative braking and a host of other terms.
Young South African motorists are increasingly opting for more affordable and practical vehicles as the cost of living puts pressure on household budgets, while still maintaining comprehensive insurance cover.
The row over BMW’s Spider-Man promotion is not really about superheroes. It is about trust, control and the creeping feeling that modern cars are becoming digital platforms first and private possessions second.
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Have you ever noticed that anybody driving slower than you is an idiot, and anyone going faster than you is a maniac?
George Carlin
Young South African motorists are increasingly opting for more affordable and practical vehicles as the cost of living puts pressure on household budgets, while still maintaining comprehensive insurance cover.
The row over BMW’s Spider-Man promotion is not really about superheroes. It is about trust, control and the creeping feeling that modern cars are becoming digital platforms first and private possessions second.
With forecasts of snow, icy rain and stormy weather across the country, motorists are urged to drive carefully and adapt their driving style to suit the conditions.
